?? BTC might hit $120K soon

Hello traders!

What a start! Hope you’re surfing the bullish wave like a pro.

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BTC Goes Up, Technical Indicators Show Buy?

Price Dynamics (7d)?

BTC $105,767 ?? 11.56%?

ETH $3,927 ?? 0.10%

BTC Technical Indicators Show?Buy?(1d)

Oscillators: Sell (3 Sell, 8 Neutral, 0 Buy)?

Moving Averages: Strong Buy (1 Sell, 1 Neutral, 12 Buy) ?

Fibonacci's Pivot for BTC?

Take a look at Fibonacci's Support (S) and Resistance (R) levels for BTC if you wonder where to place your Stop Loss and Take Profit. ?

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Crypto Week: Predictions & Highlights

Bitcoin reached $106,449 in early Monday trading, marking a new milestone, before correcting to the $104,000-$105,000 range. This increase was driven by anticipation of a 25-basis-point U.S. rate cut this week. Currently, BTC is trading at $105,767, up by 6.55% for the week.

In tandem with Bitcoin, Ether also rallied, briefly surpassing $4,000. It then saw a slight correction but has managed to stay above $3,900, with weekly gains of 0.11%.

Traders should keep a close eye on this week’s macroeconomic events, with a few major events on the horizon.

Dec 18: U.S. Fed interest rate decision. Dec 19: U.S. GDP growth rate for Q3. Dec 20: U.S. PCE (Personal Consumption Expenditures) Price Index for October.

Now, let’s see what the leaders of the industry are saying about the crypto market.?

What's up in crypto this week? Experts share their thoughts:

??? 10X Research analysts report that, according to their signal for Bitcoin, which is backed by a proven accuracy rate of 10 out of 12,?Bitcoin could surge to $120,000 by Trump’s inauguration on January 20, 2025.

?? Matrixport analysts believe 2025 could be a turning point for Ethereum, with TradFi institutions likely to accumulate it more aggressively, fueled by strong inflows into Ethereum ETFs.?

?? Technical analyst @Titan of Crypto points to a "bullish crossover" on the daily MACD, indicating that the short-term average is now above the long-term one, suggesting $112,000 is in sight.?

?? Michael van de Poppe cautions that leveraged long positions are once again high. If BTC drops below $102,000, it could trigger another liquidity crash. If it holds above, $110,000 is the next level.

As per other news of the market:

? MicroStrategy has purchased an additional 15,350 BTC at an average price of $100,386 per BTC.

?? Ethena is launching USDtb, a stablecoin backed by BlackRock’s BUIDL fund, which holds over half a billion dollars in U.S. Treasury bills.

?? Thailand is exploring a Bitcoin payment sandbox in major tourist destinations.

?? Ripple’s CTO warned that there may be “supply shortages” in the early days of Ripple’s US dollar-pegged stablecoin but advised investors not to “FOMO”.

?? Last week, digital asset investment products saw net inflows of $3.2 billion.

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